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If I buy stock under a dollar with a limit order, I would like to know what Could and what Would happen if I: limit order @ ask price, the current market price, and the ask price.
If the trade doesn't go through, you don't lose money right because the trade never went through, is this correct? or can you still lose money on a limit order even if it doesn't go through?
If you place a limit order and trade does not execute you lose no money. I think you're concerned that a broker might charge you a fee simply for placing your order in the system.
If a limit order is exectuted it is guaranteed to execute at your price or better, but its execution is not guaranteed, i.e. nothing happens as the order just sits there and is eventually cancelled by you or by your broker automatically at end of day or end of a GTC period (good til cancelled). A market order is guaranteed to execute but the price is not guaranteed, i.e. it could execute at a price worse than the market (or last price traded you saw on screen).
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